X Corporation owns 80 percent of Y Corporation's common stock and 40 percent of Z Corporation's common stock. Additionally, Y Corporation owns 35 percent of Z Corporation's common stock. The acquisitions were made at book values. The following information is available for 20X8: XYZOperating Income$100,000 $50,000 $25,000 Dividends declared 30,000 20,000 10,000 Based on the information provided, what amount of income will be assigned to the controlling interest in the 20X8 consolidated income statement?
A. $130,750
B. $150,000
C. $157,000
D. $141,250
Answer: C
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A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $360,000 and direct labor hours would be 45,000. Actual manufacturing overhead costs incurred were $377,200, and actual direct labor hours were 47,000. The entry to apply the factory overhead costs for the year would include a
A) debit to factory overhead for $360,000. B) credit to factory overhead for $376,000. C) debit to factory overhead for $377,200. D) credit to factory overhead for $360,000.
If there is a great deal of concern about the economy entering a recession, the market will generally become:
a. bearish b. a junk bond oriented market c. a blue chip securities market d. bullish e. wolfish
Which of the following goals of the firm are synonymous with the maximization of shareholder wealth?
A) Profit maximization B) Risk minimization C) Maximization of the total market value of the firm's common stock D) None of the above
A survey revealed that 21.5% of the households had no checking account, 66.9% had regular checking accounts, and 11.6% had NOW accounts. Of those households with no checking account 40% had savings accounts. Of the households with regular checking accounts 71.6% had a savings account. Of the households with NOW accounts 79.3% had savings accounts. The probability that a randomly selected
household has no checking account and no savings account is: a. 0.0860. b. 0.1290. c. 0.5330. d. 0.1309. e. 0.3430.